Kingsoft announces partial conversion of convertible bonds

Kingsoft Corporation (HKEX:3888) announced the partial conversion of its convertible bonds due 2025. The company issued 1,179,177 and 9,807,304 shares on April 11 and 14, 2025, respectively, to bondholders exercising their conversion rights. This conversion represents 12.32% of the initial principal amount of the bonds, converted at HKD34.77 per share. The newly issued shares account for approximately 0.82% of Kingsoft's total shares both before and after the conversion. Following the cancellation of the converted bonds, the outstanding principal amount remaining is approximately HKD2,718 million, representing 87.68% of the initial principal. The company stated it will make further announcements regarding subsequent redemptions or cancellations as appropriate.